It's always critical that your data is reliable
Data Quality is definitely not the most exciting topic BUT (and this can't be capitalised enough) when your business relies on reports and analytics to make informed, fact-based decisions, it’s critical that data is correct and accurate!
Data Quality is comprised of many things, but includes:
- Accuracy and validity of data at transactional level when data is entered or created in your source systems
- Consistency between systems and applications
- Definition and calculation of Key Metrics eg Net Profit
- Lineage and Transparency of how the data moves from creation to consumption
When these activities don’t align with your business strategy, or are not adopted in the same way across all of the business, problems can occur.
Scenario:
Variation in how net profit is calculated and derived differs throughout the business.
Impact:
Most of us have been in sales meetings where volume or revenue for the same period and for the same product, or service, differs across reports.
The meeting often ends up debating which report has the right set of numbers. These meetings and variations in numbers can be very damaging to individuals when these numbers are used to directly judge someone's performance.
Rather than the business agreeing on actions based on what the numbers are telling the business (and/or the insights from the performance of that product or service) the validity of the numbers become the focus.
This is where data quality comes in. It's not just "the icing on the cake" data quality is the whole cake.
Notitia is a national leader in end-to-end data analytics and digital transformation. Our people solve real world problems providing analytics, design, development and strategy for more than 60 clients.
We specialise in data governance and cyber security problems. If you have any questions about how we can help book at meeting with Notitia Managing Director + Founder Alex Avery.
